PANews reported on July 11 that according to The Block, Caldera, a Rollup-as-a-Service infrastructure provider, will launch its native token ERA, which will be the main asset for paying gas fees, staking and governance. The total number of tokens is 1 billion, and 7% is reserved for community members and ecosystem participants. Users must register on the claim website before issuance to be eligible. ERA has three major functions: as a full-chain gas token to drive network transactions; support staking to ensure the security of cross-chain message verification; and promote decentralized governance through on-chain voting.

The Caldera Foundation in the Cayman Islands oversees the growth and decentralization of the ecosystem, and governance will be gradually decentralized, with token holders electing sub-committee members. Currently, the company's team has raised a total of US$25 million, including a US$15 million Series A round led by Peter Thiel's Founders Fund last year.